Investors looking to enter the uranium market have several options on the Australian Securities Exchange (ASX), with Bell Potter recently highlighting three stocks that stand out as potential buys. These recommendations come amid ongoing fluctuations in uranium prices and market sentiment.
Boss Energy Ltd: A Potential Turnaround
Boss Energy Ltd (ASX: BOE) has been rated as a buy by Bell Potter, which has set a price target of $1.95. The broker argues that the market is currently undervaluing the uranium producer. Following a recent production update, there is a perception of negativity surrounding the stock. Bell Potter believes that BOE is “bubbling along the bottom” of its trading range. This presents an opportunity for investors, particularly as the company could become a takeover target at current levels. Notably, global uranium producer Orano has expressed interest in diversifying its portfolio, a move that could benefit BOE.
Paladin Energy: Stability on the Horizon
Another stock that has garnered a positive outlook from Bell Potter is Paladin Energy Ltd (ASX: PDN). The broker has assigned a buy rating with a price target of $12.50. Bell Potter suggests that the market is overlooking the potential of Paladin’s Patterson Lakes South project. As the company enters a phase of relative stability with rising uranium spot and term prices, it anticipates improved performance from its Langer Heinrich Mine (LHM). The projected earnings per share (EPS) changes indicate a decline of 69% for FY26, 29% for FY27, and 6% for FY28, but the broker believes that the market is undervaluing the upside potential of the Patterson Lakes South project.
Lotus Resources: Cautious Optimism
Lastly, Bell Potter has a buy rating for Lotus Resources Ltd (ASX: LOT) with a price target of 30 cents. While acknowledging the challenges that uranium project restarts have faced in recent years, the broker notes that Lotus has managed its operations effectively thus far. Bell Potter warns that while there may still be some “teething issues,” the company appears to be progressing well. With A$74 million in cash as of November 25, 2025, Lotus is in a solid position to navigate potential challenges ahead. If it can maintain this momentum over the next six months, the market could respond positively, leading to a re-rating of the stock.
As the uranium sector continues to evolve, these three ASX stocks offer various opportunities for investors willing to engage with the market.
